GavinLower

Chief Executive David Dearie said in a statement the result, its first since the company was demerged from beer brewer Foster's Group Ltd. (FGL.AU) in May, was "solid."

The company said in a statement that, on a pro-forma basis, which adjusts its results to account for the demerger and costs, wine volumes sold fell in fiscal 2011 to 33.2 million nine liter cases, from 35.6 million nine liter cases the previous year.

"While there is ongoing consumer uncertainty in many of our more established markets, the fundamentals underpinning our industry remain robust, and we see opportunities for significant growth in the U.S., Australia and particularly Asia," Dearie said.

Revenue from ordinary activities was up 2% to A$1.47 billion in fiscal 2011, from the previous year's A$1.45 billion, but on a pro-forma basis, revenue was down 7.3% at A$1.8 billion, from A$1.94 billion a year ago.

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